CBS offers online loan application

MANILA, Philippines - China Bank Savings (CBS) has enhanced its website with a loan application feature that makes applying for a housing, auto, personal, and commercial/SME loan easier, faster and simple through www.cbs.com.ph.

CBS president Alberto Emilio Ramos said that online banking is a cornerstone of the thrift bank’s strategy to reach out to customers and expand its lending activities.

“Our online portal connects us with the over 30 million Filipinos who now have access to the internet.  They don’t have to go to a CBS branch to get information about our loan offerings or to apply for a loan; they can conveniently do so online and in no time,” Ramos said.

The savings bank has a relatively small footprint of 36 branches to date – 80 by year-end.

Thus electronic or e-channels like automated teller machines (ATMs), and online and mobile banking, launched in 2011, enable CBS’ customers to bank when, where, and how it is most convenient for them. It has 39 ATMs so far.

Ramos is optimistic about the positive impact of the online loan application feature, even just generating interest from potential clients. A team dedicated to reviewing online applications has been formed to focus on all online applications.

It is also advantageous to the bank as less time and manpower are involved with processing online applications.  The preliminary approval is done online.  Once approved, the applicants must go to a branch with the required documents for the final approval.

CBS is the thrift bank subsidiary of China Banking Corp. (China Bank).  Focused on the retail market, offering products and services that match different life stages, CBS began operations on September 8, 2008, following China Bank’s acquisition of Manila Bank in late 2007. 

CBS is poised to grow its branch network to 100 by 2014 as China Bank’s newly acquired rural bank, Unity Bank, will be merged with CBS within the year. 

The acquisition will boost CBS’ network with 15 Unity Bank branches and additional 24 branch licenses in the restricted areas.